Blueshift Asset Management LLC Invests $150,000 in CleanSpark, Inc. (NASDAQ:CLSK)

Blueshift Asset Management LLC bought a new stake in shares of CleanSpark, Inc. (NASDAQ:CLSK) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 16,316 shares of the company’s stock, valued at approximately $150,000.

Several other institutional investors have also bought and sold shares of the stock. Victory Capital Management Inc. boosted its holdings in CleanSpark by 2.6% during the 3rd quarter. Victory Capital Management Inc. now owns 67,981 shares of the company’s stock worth $635,000 after acquiring an additional 1,709 shares during the last quarter. KBC Group NV boosted its holdings in CleanSpark by 42.0% during the third quarter. KBC Group NV now owns 7,403 shares of the company’s stock worth $69,000 after purchasing an additional 2,190 shares during the last quarter. Quest Partners LLC bought a new stake in CleanSpark in the 3rd quarter worth about $374,000. Intech Investment Management LLC purchased a new stake in CleanSpark in the 3rd quarter valued at about $674,000. Finally, Charles Schwab Investment Management Inc. increased its stake in CleanSpark by 10.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,194,835 shares of the company’s stock valued at $20,500,000 after buying an additional 208,862 shares during the last quarter. Institutional investors own 43.12% of the company’s stock.

Analyst Ratings Changes

CLSK has been the subject of several recent analyst reports. Macquarie upped their target price on CleanSpark from $20.00 to $24.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. HC Wainwright restated a “buy” rating and issued a $27.00 price objective on shares of CleanSpark in a research note on Friday, February 7th. Needham & Company LLC started coverage on CleanSpark in a research note on Wednesday, February 12th. They set a “buy” rating and a $20.00 target price on the stock. JPMorgan Chase & Co. reduced their price target on shares of CleanSpark from $17.00 to $12.00 and set an “overweight” rating for the company in a research report on Thursday, March 13th. Finally, Keefe, Bruyette & Woods assumed coverage on shares of CleanSpark in a research report on Monday, January 27th. They issued an “outperform” rating and a $19.00 price objective on the stock. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat, CleanSpark has a consensus rating of “Buy” and an average target price of $21.57.

CleanSpark Stock Performance

Shares of CleanSpark stock opened at $7.44 on Friday. The stock has a market capitalization of $2.09 billion, a P/E ratio of 67.64 and a beta of 4.20. CleanSpark, Inc. has a 52-week low of $7.22 and a 52-week high of $24.72. The stock’s 50-day simple moving average is $9.61 and its 200 day simple moving average is $10.74.

CleanSpark (NASDAQ:CLSK) last posted its quarterly earnings results on Thursday, February 6th. The company reported ($0.07) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.11) by $0.04. CleanSpark had a net margin of 16.07% and a negative return on equity of 2.61%. Equities research analysts forecast that CleanSpark, Inc. will post 0.58 EPS for the current fiscal year.

Insider Transactions at CleanSpark

In other news, Chairman S. Matthew Schultz sold 9,010 shares of the company’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $10.64, for a total value of $95,866.40. Following the transaction, the chairman now owns 2,450,010 shares of the company’s stock, valued at approximately $26,068,106.40. This represents a 0.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Zachary Bradford sold 10,533 shares of the stock in a transaction on Friday, February 14th. The stock was sold at an average price of $10.64, for a total value of $112,071.12. Following the completion of the sale, the chief executive officer now owns 3,059,326 shares in the company, valued at $32,551,228.64. This trade represents a 0.34 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 23,186 shares of company stock valued at $246,375 over the last three months. Company insiders own 2.65% of the company’s stock.

About CleanSpark

CleanSpark, Inc operates as a bitcoin miner in the Americas. It owns and operates data centers that primarily run on low-carbon power. Its infrastructure supports Bitcoin, a digital commodity and a tool for financial independence and inclusion. The company was formerly known as Stratean Inc and changed its name to CleanSpark, Inc in November 2016.